5 Best Falling Stocks to Buy Now

4. NVIDIA Corporation (NASDAQ:NVDA)

Year-To-Date Decline as of November 25: 45.98%

Number of Hedge Fund Holders: 89

NVIDIA Corporation (NASDAQ:NVDA) has declined significantly in 2022 and is down 46% for the year, as of November 25. However, the company has a strong market share and brand presence in the GPU market, and its products are used in a wide range of gaming and professional applications. The company has a history of delivering strong financial results, and its stock has been a strong performer, especially in recent years. The company is well-positioned for continued growth due to its exposure to lucrative high-growth markets such as data centers, AI, and gaming.

On November 17, Needham analyst Rajvindra Gill raised his price target on Nvidia Corporation (NASDAQ:NVDA) to $200 from $155 and maintained a Buy rating on the shares. This November Jefferies analyst Mark Lipacis maintained a Buy rating and his $225 price target on NVIDIA Corporation (NASDAQ:NVDA).

At the end of Q3 2022, 89 hedge funds were long NVIDIA Corporation (NASDAQ:NVDA) and held stakes worth $4.29 billion in the company. This is compared to 84 positions in the previous quarter with stakes worth $3.31 billion. The hedge fund sentiment for the stock is positive. As of September 30, Fisher Asset Management is the top investor in the company and has disclosed a position worth $1.46 billion.

Here is what ClearBridge Investments had to say about NVIDIA Corporation (NASDAQ:NVDA) in its third-quarter 2022 investor letter:

“Likewise, graphics chip maker NVIDIA Corporation (NASDAQ:NVDA) (-19.9%) has struggled through the post-COVID-19 recovery but maintains dominant positions in key secular growth markets of AI and gaming. The company has significantly underperformed the index and semiconductor peers recently due to a gaming inventory correction, a decline in aggregate cryptocurrency demand and reduction in crypto mining intensity as well as concerns around the sustainability of data center sales.

We tactically trimmed our position early in 2022 due to concerns around these cycle dynamics but remain confident in the company’s long-term prospects.”